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Bull Market

Bull Market is the financial condition when stocks price is increasing

Bear Market

A bear market is a period of several months or years during which the prices of securities drop steadily. Typically, the word is used in relation to the stock market, but it may also define particular industries such as real estate, bond or foreign exchange. It's the reverse of a bull market, where asset prices are steadily rising.

Currency Derivative Market

Currency Derivative Market is the market in which buying and selling of currency futures and options.

Thursday, August 15, 2019

Sensex PE Hits 20-year High; Stock Markets Headed For A Severe Correction? Here’s What To Do Now

What is Sensex P/E: Sensex P/E Hits 20 Year High 

As the PE ratio of Sensex soars to a 20-year high indicating extreme overvaluation, experts say that a stock market correction is in the offing, as such levels are unsustainable. The Sensex PE has soared to 28.29 in FY20, it’s highest in the last 22 years. “The market is indeed overvalued at a PE of above 28. Markets are extremely fragmented at the current moment and Sensex cannot always remain in its fortified island at such high levels. There is a very high likelihood that stocks will crack and correct to their mean PE levels within a short span of time,” Umesh Mehta, Head of Research, SAMCO Securities told Financial Express Online. The Price to Earnings (PE) ratio compares the market price of the share in relation to its earnings. The ratio implies the amount an investor is willing to pay to earn one rupee in earnings (profit). Therefore, if the PE ratio for Sensex stands at 28, investors are willing to pay Rs 28 for one rupee profit collectively earned by all companies that comprise the Sensex.

Explaining the reason behind the excessively high PE at present, investment advisor Sandip Sabharwal noted that losses reported by stocks like Tata Motors and SBI have skewed the ratio, which is unlikely to repeat in the future. “Sensex PE is misleading as over the years more and more high PE stocks have to go added to the Index. Due to this, the PE looks higher than what it would be in normal circumstances,” he noted.


Experts concur that the valuations remain stretched at the current levels. On one hand, few select large caps in key sectors like BFSI, IT and Oil & Gas which constitute majority of weight in the index have been taking the markets higher, while the other sectors like Auto, Pharma, Metal and Telecom has already witnessed considerable correction over the past 1-2 years due to their respective challenges, Ajit Mishra, VP – Research, Religare Broking told Financial Express Online.

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Notably, the top 10 index constituents have been getting a lion’s share of incremental flows from both domestic as well as foreign funds, says Jatin Khemani, founder and chief executive officer, Stalwart Advisors, an independent equity research firm registered with the Securities and Exchange Board of India. “This has elevated their multiples as well as that of the index,” Khemni told Financial Online, adding that the story outside the top index stocks is the exact opposite, as the broader markets have seen meaningful outflows contracting their multiple below the 5-year average. “The re-rating that happened over the last cycle has been completely washed away bringing valuation of broader markets back to reasonable levels,” he said. However, the Sensex PE ratio serves little purpose for the bottom-up stock pickers, says Khemani. “What matters much more is the quality, growth outlook and valuation of companies one holds in his portfolio,” he added.

So what should investors do, to mitigate the risk of a loss? “Investors should do systematic investment plan (SIP) in midcap funds or thematic funds like pharma sector funds as risk-reward is favorable in those at current levels,” Vikas Jain, Senior Research Analyst, Reliance Securities told Financial Express Online. According to the expert, earnings have to catch up from current levels otherwise there will be a price to earnings (PE) contraction which will lead to a sharp correction in the Sensex. “Midcaps and small caps have witnessed deeper correction over the past one year as issues with respect to earnings decline, governance issues and sharp outperformance in CY17,” he said, adding that markets will keenly watch the first-quarter earnings of FY20 and global issues with respect to trade war and higher crude prices from current levels, going forward.

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What’s Driving The Investor Bet On Sensex Stocks
Mint takes a look at what is driving the stock market.


1) Are the current levels of the stock market justified?


Till now, in fiscal 2019-20, the price-to-earnings (P-E) ratio of the 30 shares that constitute the BSE Sensex, India’s most popular stock market index, has been at 28.17. The P-E ratio is the market price of a share divided by its earnings per share. When investors buy a share at a certain price, they are basically paying for the future earnings of that company. So far this fiscal, investors have paid ₹28.17 on an average for every rupee of earning for Sensex shares. This is the highest average P-E ratio is more than 20 years. Thus, it’s important to understand what exactly the stock market is paying for.

2) Why are investors paying such a high price for shares?


A high P-E ratio means that while share prices are going up, earnings of firms are not. People investing in the stock market hope that as Prime Minister Narendra Modi has a bigger majority this time, his government will initiate another round of reforms on labor, land, and capital. These reforms will improve the ease of doing business. This will help companies expand businesses and spur the launch of several new businesses, thus creating jobs. The creation of more jobs will help people earn more, leading to greater spending, which will benefit businesses and improve their earnings.

3) Have P-E ratios ever been so high in the past?


P-E ratios were high in mid-2000 when the dotcom bubble was on, and on December 2007 and early January 2008, when the market was rallying, before the financial crisis set in.

4) What are the other reasons for such a strong market?


In the last decade, the central banks of Western countries, led by the Federal Reserve of the US, have followed an easy-money policy. This allowed foreign investors to borrow money at low-interest rates in the West, buy shares all over the world and drive up share prices in the process. In the last few months, the Federal Reserve has more or less signaled that this easy money policy is likely to continue. This has given further hope to stock market investors in India.

5) What about the consumption slowdown?


Investors expect the new government to tackle the consumption slowdown by raising its spending. This is a short-term hope that has driven up the stock market, despite the lack of earnings growth of firms. The government needs to avoid the mistakes made in 2008-09 when it increased spending and pushed public sector banks to run an easy credit policy. This later led to high inflation and massive bad loans of those banks.



Thursday, August 8, 2019

PMS: What are PMS or Portfolio Management Services in India ?

Portfolio Management Services Meaning -Complete Guide 

Portfolio Management Services account is an investment the portfolio managed by a skilled money manager in stocks, debt, and fixed income products that can possibly be tailored to fulfill particular investment goals. When you invest in PMS, unlike a mutual fund investor, who owns units of the entire fund, you own individual bonds. To tailor your portfolio to meet personal preferences and economic objectives, you have the liberty and flexibility. While portfolio directors can supervise hundreds of portfolios,it may be unique to your account. Only those organizations registered with SEBI to provide PMS Services can deliver PMS to customers as per SEBI rules. For the sale of any PMS item, no distinct certification is needed. So this is the situation where there may be mis-spelling. The minimum investment needed to open a PMS account is Rs. 5 Lacs in accordance with the SEBI rules. However, for distinct products, distinct suppliers have distinct minimum equilibrium demands. For Eg Birla, AMC PMS has a minimum quantity requirement for a product of Rs. 25 lakes. Similarly, for their PMS, HSBC AMC has a minimum requirement of 50 lakes and Reliance has a minimum requirement of Rs. 1 Crore.


There are two kinds of PMS in general.


1.Non-Discretionary Portfolio Management Services(PMS): Under this service, only the investment concepts are suggested by the portfolio manager. The selection and timing of investment choices are up to the investor alone. However, the portfolio manager performs trade.
2. Discretionary Portfolio Management Services(PMS).: The discretionary portfolio manager will handle each client's resources separately according to the client's requirements.At the moment of opening his account, the customer may provide an adverse stock list in a discretionary PMS and the Fund Manager would guarantee that those stocks are not purchased in his portfolio. Most PMS suppliers are offering discretionary services in India.

Each PMS  account is unique and each account's valuation and a portfolio may vary. There is no NAV for a PMS system; however, the PMS supplier will provide the client with a daily valuation of their portfolio. Each account with PMS is unique to each other. Each PMS system has a model portfolio and all investments made in the Portfolio Management Services for a specific investor are based on the scheme's model portfolio. These are the following reasons why portfolio may differ from investor to investors :
1. The difference in shareholder amount Redemptions / additional purchase by shareholder market situation–Example If the model portfolio has an investment in Reliance Industries and the present the opinion of the fund manager on RIL is' HOLD' (and not' BUY'), a fresh a shareholder may not have Infosys in its portfolio.

2.Investor entrance at distinct times. The interaction of the fund manager also takes place under PMS systems. The frequency relies on the size of the portfolio of clients and the supplier of portfolio management services. Bigger the portfolio, interaction frequency is higher. The PMS supplier generally arranges communication between fund managers on a quarterly/half-year basis.
How can investors invest in services for portfolio management (PMS)?
In a Portfolio Management Services an investor can invest in two ways:

1.By moving current stocks to the PMS account maintained by the client. The transferred portfolio value should be higher than the minimum investment requirements.

2.Payment by check

Besides this client will need to sign a few records such as –PMS contract with the supplier, Power of Attorney contract, New Demat account opening format (even if the shareholder has a Demat account to open a fresh one) and documents such as PAN, address evidence and evidence of identity are compulsory. NRIs are able to invest in a PMS. To invest in PMS, the NRI must open a PIS account. However, the paperwork needed for an NRI is distinct from an Indian resident. Each PMS supplier provides a document checklist.


Charges of Portfolio Management Services 


The following fees are charged by a PMS. At the moment of the investment, the fees are chosen and vetted by the investor.
1.Entry Load –The entry burden of PMS Systems maybe 3%. It is charged only when purchasing the PMS.

2.Management Charges: Every system for Portfolio Management Services charges the fees for Fund Management. Depending on the PMS supplier, Fund Management Charges may differ from 1% to 3%. It is paid to the PMS account quarterly.
3. Sharing of Profits: Some PMS schemes also have profit-sharing arrangements (in addition to fixed fees), in which the provider charges a certain amount of fees/profit over the fund's stipulated return. For Eg PMS X has 2 percent set charges plus a 20 percent the charge for return charges produced above 15 percent in the year. In this event, if the return produced by the system in the year is 25%, the charges charged by the PMS will be 2%+{ (25%-15%)*20%}. For each Portfolio Management Services supplier and for each plan, the fees charged are distinct. It is recommended that the investor verifies the scheme's fees. In addition to the above fees, the PMS also charges investors on the following fees as all investments are made in the investor's name:
Transaction Brokerage
Demat Account Opening Fees
Audit Fees
Brokerage of Transactions 

How is the Mutual Fund distinct from PMS?

PMS and Mutual are both types of managed funds. The distinction between an investor and a mutual fund in Portfolio Management Services is:

  • Portfolio can be customized to meet investor requirements.
  • Focused portfolio.
  • Taxation difference
  •  Investors own the shares directly, rather than the stock-owning fund

PMS(Portfolio Management Services ) Taxation

 Any revenue from the account of Portfolio Management Services is a company revenue. Unlike MF, for the advantage of equity taxation, PMS is not needed to stay 65 percent + invested in equity. Each account for Portfolio Management Services is in the name of an extra investor, so tax therapy is performed at an individual investor level. Profit on the same can be regarded as income from the business. (i.e. slab wise). Profit can be regarded as gains in capital. STCG(15%) or LTCG(Free of Tax)]. It relies on the treatment of this income by customers Chartered Accountant or the evaluating officer. At the end of the FY, the PMS provider sends an audited statement detailing STCG and LTCG, and it is up to the customer and his CA to decide to treat it as a capital gain or business income.

While many PMS suppliers offer standardized portfolios, some give custom-made investments. A customer may want to invest a big quantity, for example, in a single stock. In mutual funds, this is not possible because they can not maintain the net asset value of more than 10 percent in a single stock. While this spreads risk, a major drawback is that even if it is a very good investment, mutual funds can not hold a large interest in a business. This restriction does not exist for PMS.

Wednesday, August 7, 2019

How to Open a Demat Account with Zerodha||เคกीเคฎैเคŸ เค…เค•ाเค‰ंเคŸ เค•ैเคธे เค“เคชเคจ เค•เคฐे เฅ›ेเคฐोเคงा เค•े เคธाเคฅ

เคธเคฌเคธे เคชเคนเคฒे Demat Account  เคนोเคคा เค•्เคฏा เคนै ?? || What is Demat Account meaning 


Zerodha เค•े เคฌाเคฐे เคฎै เคฌाเคค เค•เคฐเคจे เคธे เคชเคนเคฒे เคนเคฎ เคฏเคน เคœाเคจเคคे เคนै  Dematerialised Account เคนोเคคा เค•्เคฏा เคนै เคœिเคธे  เคนเคฎ Demat Account เคถाเคฐ्เคŸ เคฎเคˆ เคฌोเคฒเคคेเคน เคนै เคฏเคน เคเค• type เค•ा เค…เค•ाเค‰ंเคŸ เคนै เคœिเคธเคฎेเคน เคนเคฎ เคถेเคฏเคฐ्เคธ เค”เคฐ เคธिเค•्เคฏोเคฐिเคŸीเคœ Electronic Form เคฎै  hold เค•เคฐเคฐ्เคคे เคนै เค‡เคธเคธे Share เคŸ्เคฐेเคก เค•เคฐเคจा  เค†เคธाเคจ  เคนो เคœाเคคा เคนै || Demat Account Stands For Dematerialised Account we can easily trade shares with Demat account which in electronic form.
เค‡ंเคกिเคฏा เคฎै เคธเคฌเคธे เค…เคš्เค›ा เคกिเคธ्เค•ाเค‰ंเคŸ Zerodha เคนै เค†เคช  เค†เคธाเคจी เคธे Zerodha เคฎे เค…เคชเคจा Demat Account เค“เคชเคจ เค•เคฐ เคธเค•เคคे  เคนै 

เค‡ंเคกिเคฏा เคฎै Demat Account เค•ी เคธเคฐ्เคตिเคธ NSDL เค”เคฐ CDSL เค•े เคฆ्เคตाเคฐा เคฆिเค เคœाเคคी เคนै เค†เคชเค•ो เคฏเคน เคธเคฐ्เคตिเคธ เค‡ंเคŸเคฐเคฎीเคกीเค†เคˆเคเคธ เคฏा เคกिเคชाเคœिเคŸเคฐी เคชाเคฐ्เคŸिเคธिเคชेंเคŸ्เคธ เคฏा เคฌ्เคฐोเค•เคฐ เคœैเคธे Zerodha hai.Demat Account เคธाเคฐे เคถेเคฏเคฐ्เคธ ,เคธเคฐเค•ाเคฐी เคธिเค•्เคฏोเคฐिเคŸीเคœ,เคเค•्เคธเคšेंเคœ เคŸ्เคฐेเคกेเคก เคซंเคก्เคธ ,เคฌांเคก्เคธ เค”เคฐ Mutual Funds เค•ो เคนोเคฒ्เคก เค•เคฐเคคा เคนै 

What is Dematerialisation ||Dematerialisation เค•्เคฏा เคนै 


Dematerialisation เคเค• เค•िเคฏा เคนै เคœिเคธเคธे เคนเคฎ เค…เคชเคจे Physical Shares  เค•ो  Electronic Form mai  เคธ्เคŸोเคฐ เคœोเค•ि เคฌเคนुเคค เค†เคธाเคจी เคธे เคธुเคฒเคญ (accessible) เคนै เค•เคนीं เคธे เคญी เคฆुเคจिเคฏा  เคฎै। เคเค• เค‡เคจ्เคตेเคธ्เคŸเคฐ เค•ो เค‘เคจเคฒाเค‡เคจ เคŸ्เคฐेเคก เค•เคฐเคจे เค•े เคฒिเค Demat  เค…เค•ाเค‰ंเคŸ เค–ुเคฒเคตाเคจा (Demat Account Opening)เคนोเคคा เคนै 

Zerodha Broker เคเค• เคฌเฅœा Discount Broker เคนै เคœिเคธเคธे เคชांเคš เคฒाเค– เคธे เคญी เคœ्เคฏाเคฆा เค—ाเคนเค• เคนै เค‡ंเคกिเคฏा เคฎै เคœिเคธเค•ा เคฐोเฅ› เค•ा เคŸเคฐ्เคจเค“เคตเคฐ เคจौ เคนเฅ›ाเคฐ เค•เคฐोเฅœ เคธे เคญी   เคœ्เคฏाเคฆा  เคนै NSE ,BSE ,MCX เคฎै เค‡เคธเค•े เคšाเคฐ्เคœेเคœ เคจाเคฎเคฎाเคค्เคฐ เคนै เค”เคฐ เค‡เคธเค•ा เคŸ्เคฐेเคกिंเค— เคช्เคฒेเคŸเคซाเคฐ्เคฎ เคญी เคฌเฅिเค เคนै. เค‡เคธเค•े เคฌ्เคฐोเค•เคฐेเคœ เคšाเคฐ्เคœेเคœ 0.01 % or Rs 20 เคœो เคญी เค•เคฎ เคนोเค—ा  เคนเคฐ เคเค• เค†เคฐ्เคกเคฐ। เคฏเคน เคเค• เคธเคธ्เคคा  เคฌ्เคฐोเค•เคฐ เคนै เค…เค—เคฐ เค”เคฐो เคธे เคคुเคฒเคจा เค•ी เคœाเค เค…เค—เคฐ เค†เคช 60000 เคถेเคฏเคฐ เค–เคฐीเคฆเคคे เคนो เคคोเคน เค†เคชเค•ो เคธिเคฐ्เคซ 20 rs เคฌ्เคฐोเค•เคฐेเคœ เคšाเคฐ्เคœेเคœ เคฆेเคจे เคนोंเค—े เคœोเค•ि เค”เคฐ เคฌ्เคฐोเค•เคฐ เคธे เคœ्เคฏाเคฆा เค…เคš्เค›ा เคนै เค‡เคธเค•े เค…เคฒाเคตा เคœोเคน เค…เคฎाเค‰ंเคŸ เคšाเคฐ्เคœ เคนोเคคे เคนै เคฆोเคจों เคธाเค‡เคก เค–เคฐीเคฆเคจा เค”เคฐ เคฌेเคšเคจा เคตเคน เคญी เคฌเคนुเคค เค•เคฎा เคนो เคœाเคคा เคนै เค…เค—เคฐ เคฆूเคธเคฐे เคธे เคคुเคฒเคจा  เค•เคฐे 

Top Reasons To Open Demat Account With Zerodha || เฅ›ेเคฐोเคงा เค…เค•ाเค‰ंเคŸ  เค–ुเคฒाเคจे เค•े เค•ाเคฐเคฃ 


1. เคฑ 0  เค‡เค•्เคตिเคŸी เคกिเคฒीเคตเคฐी เค•े เคšाเคฐ्เคœेเคœ เค”เคฐ เฅจเฅฆ เคฐू เคฏा 0.01% เคœो เคญी  เค•เคฎ  เคนो เคนเคฐ เคเค• เค†เคฐ्เคกเคฐ เคชเคฐ 
2. เค•ोเคˆ เคญी เค…เคชเคซ्เคฐंเคŸ เคซीเคธ เคจเคนीं เคนै 
3. เคนเคฐ เคเค•  เคเค•्เคธเคšेंเคœ เคฎै เคเค• เคช्เคฐाเค‡เคธ  เคนै เคซिเคฐ เค›ाเค NSE เคนो เคฏा BSE  เคฏा  MSE
4  3 เคฒाเค– เคธे เคญी เคœ्เคฏाเคฆा เค—ाเคนเค• เค”เคฐ เคกेเคฒी เคŸเคฐ्เคจเค“เคตเคฐ เคจो เคนเคœाเคฐ เค•เคฐोเฅœ เคธे เคญी เคœ्เคฏाเคฆा 
5. 300 + เคธเคฎเคฐ्เคชिเคค เคธเคชोเคฐ्เคŸ  เคŸीเคฎ เค†เคชเค•े เคช्เคฐเคถ्เคจो เค•ा เค‰เคคเคฐ เคฆेเคจे เค•े เคฒिเค 
6. เคกेเคธ्เค•เคŸॉเคช  เคช्เคฒेเคŸเคซाเคฐ्เคฎ เคชाเคˆ  เคเค• เค…เคš्เค›ा เคช्เคฒेเคŸเคซाเคฐ्เคฎ เคนै เฅ›ेเคฐोเคขा เค•ा เคŸ्เคฐेเคกिंเค— เค•เคฐเคจे เค•े เคฒिเค 


How To Open Zerodha Demat Account ||เฅ›ेเคฐोเคงा  เคฆเคฎเคค เค…เค•ाเค‰ंเคŸ เค•ैเคธे เค–ोเคฒे 


เคจिเคšे เคฆिเค เค—เค เคกाเค•्เคฏूเคฎेंเคŸ्เคธ  เค•ी เคœเคฐूเคฐเคค เคนोเคคी เคนै เฅ›ेเคฐोเคขा เค•ा เคกीเคฎैเคŸ เค…เค•ाเค‰ंเคŸ เค“เคชเคจ เค•เคฐเคจे เค•े เคฒिเค 
1. เค†เคงाเคฐ เค•ाเคฐ्เคก || Aadhar Card 
2. เคชैเคจ เค•ाเคฐ्เคก || Pan Card
3.เคชाเคธเคชोเคฐ्เคŸ เคธाเค‡เคœ เคซोเคŸोเคœ 
4. เค•ैंเคธिเคฒ เคšेเค•/เคธेเคตिंเค— เคฌैंเค• เค…เค•ाเค‰ंเคŸ เคชाเคธเคฌुเค• 

Steps to open a Zerodha Demat Account || เฅ›ेเคฐोเคขा เคกीเคฎैเคŸ เค…เค•ाเค‰ंเคŸ เค“เคชเคจ เค•เคฐเคจे เค•े เคฒिเค เค•เคฆเคฎ   

1. Zerodha เค•ी เค‘เคซिเคธिเคฏเคฒ เคตेเคฌเคธाเค‡เคŸ เคœाเค เค‡เคธ เคฒिंเค• เคชเคฐ เค•्เคฒिเค• เค•เคฐे 
2. เคกिเคŸेเคฒ्เคธ เคญเคฐे เคœैเคธे เคชूเคฐा เคจाเคฎ ,เคฎोเคฌाเค‡เคฒ เคจंเคฌเคฐ เค”เคฐ เคˆเคฎेเคฒ เคเคก्เคฐेเคธ  เค”เคฐ เค•ॉเคฒ เคฎि เคฌेเค•  เคชเคฐ  เค•्เคฒिเค• เค•เคฐे 
3. เค†เคชเค•ो เคเค• เค•ॉเคฒ เค†เคเค—ी เฅ›ेเคฐोเคงा  เค”เคฐ เคตเคน เค†เคชเค•ो เคช्เคฐोเคธेเคธ เคฌเคคाเคเค—ा เฅ›ेเคฐोเคงा เค•ा เค…เค•ाเค‰ंเคŸ เค”เคฐ เคกाเค•्เคฏूเคฎेंเคŸ्เคธ เคธเคฌเคฎिเคŸ เค•เคนा เคชเคฐ เค•เคฐเคจा เคนै 
4. เค†เคชเค•ो เคซीเคธ  เคญเคฐเคจी เคนोเค—ी เค‘เคจเคฒाเค‡เคจ เค…เค—เคฐ เค‡เค•्เคตिเคŸी เค•ा เค–ुเคฒाเคจा  เคนै เคคोเคน 300  rs  เคฒเค—ेเค—ें เค”เคฐ เค•เคฎॉเคกिเคŸी  เคฎै  200rs  เค”เคฐ เค…เค—เคฐ เคฆोเคจों เคคोเคน 300 +200 =rs 500  เคฏเคน เคซीเคธ เค†เคช เคกेเคฌिเคŸ เค•ाเคฐ्เคก เคฏा เคจेเคŸ เคฌैंเค•िंเค— เคธे เคญเคฐ เคธเค•เคคे เคนै 

5. เคกाเค•्เคฏूเคฎेंเคŸ्เคธ เคธเคฌเคฎिเคŸ เค•เคฐเคจे เค•े เคฌाเคฆ เค†เคชเค•ा เคฆเคฎเคค เค…เค•ाเค‰ंเคŸ เค“เคชเคจ เคนो เคœाเคเค—ा 5-7  เคฆिเคจ  เคฎै 

 เคเค•  เค”เคฐ เคคเคฐीเค•ा เคนै เค‘เคจเคฒाเค‡เคจ เฅ›ेเคฐोเคงा (Zerodha) เค…เค•ाเค‰ंเคŸ เค“เคชเคจ เค•เคฐाเคจे เค•ा เคœिเคธเคธे 30  เคฎिเคจเคŸ्เคธ เคฎै เค†เคชเค•ा เค…เค•ाเค‰ंเคŸ เค“เคชเคจ เคนो เคœाเคเค—ा 



How To Open Zerodha Account Online ||เฅ›ेเคฐोเคงा เค‘เคจเคฒाเค‡เคจ เค…เค•ाเค‰ंเคŸ เค•ैเคธे เค–ोเคฒे 

1. เฅ›ेเคฐोเคงा เค•ी เคตेเคฌเคธाเค‡เคŸ  เคฎै เค•्เคฒिเค• 'Open an Account'.เค‡เคธ  เคฒिंเค• เคชเคฐ เค•्เคฒिเค• เค•เคฐे  link
2. เคกिเคŸेเคฒ्เคธ เคญเคฐे เคœैเคธे เคชूเคฐा เคจाเคฎ ,เคฎोเคฌाเค‡เคฒ เคจंเคฌเคฐ เค”เคฐ เคˆเคฎेเคฒ เคเคก्เคฐेเคธ  เค”เคฐ  Continue to Sign up   เคชเคฐ  เค•्เคฒिเค• เค•เคฐे 
3.เคชैเคจ เค”เคฐ เค†เคงाเคฐ  เค•ाเคฐ्เคก เค•ी เคกिเคŸेเคฒ्เคธ เคญเคฐे. 
4. เค…เค•ाเค‰ंเคŸ เค“เคชเคจ เค•เคฐเคจे เค•े เคšाเคฐ्เคœेเคœ เคญเคฐे เคจेเคŸ เคฌैंเค•िंเค— เคฏा เคกेเคฌिเคŸ เค•ाเคฐ्เคก เคธे.
5. เค…เคชเคฒोเคก เค•เคฐे เค•ांเคธेเคฒ्เคฒेเคก เคฌैंเค• เคšेเค• เคฏा เคฌैंเค• เคธ्เคŸेเคŸเคฎेंเคŸ เค•ो เคคाเค•ि เคตेเคฐीเคซाเคˆ เคนो เคธเค•े เคธेเคตिंเค— เค…เค•ाเค‰ंเคŸ เคกिเคŸेเคฒ्เคธ 
6.  esign เค•เคฐे เคกाเค•्เคฏूเคฎेंเคŸ्เคธ เค•ो Otp received เคนोเค—ा เค†เคชเค•े เคฐेเคœिเคธ्เคŸเคฐ्เคก เค†เคงाเคฐ เคฎोเคฌाเค‡เคฒ เคจंเคฌเคฐ เคชเคฐ 
7. signoff เค•เคฐे เคเคช्เคฒीเค•ेเคถเคจ เค•ो 
8. เค†เคชเค•ो  เคชूเคฐी  เคญเคฐी  เคเคช्เคฒीเค•ेเคถเคจ เคฐिเคธीเคต เคนोเค—ी เค”เคฐ เค…เคจ्เคฏ  เคกिเคŸेเคฒ्เคธ เค†เคชเค•े เคฐेเคœिเคธ्เคŸเคฐ्เคก เคˆเคฎेเคฒ เคชเคฐ 
9 เค†เคชเค•ो เคฐिเคธीเคต เคนเค—ा เค†เคชเค•ी client id เค”เคฐ    password  เคฐเคœिเคธ्เคŸ्เคฐेเคถเคจ เค•เคฐเคจे เค•े เคเค• เคฆिเคจ เคฌाเคฆ เค”เคฐ เค‡ंเคธ्เคŸ्เคฐเค•्เคถเคจ เคญी เคฒॉเค—िเคจ เค•เคฐเคจे เค•े เคฒिเค 
10  เค‰เคธी  เคˆเคฎेเคฒ เคชเคฐ เค†เคชเค•ो เคกाเค•्เคฏूเคฎेंเคŸ्เคธ เคฐिเคธीเคต เคนเค—ा เคชीเคกीเคเฅž  เคซॉเคฐ्เคฎ เคฎเคˆ เคชाเคตเคฐ เค‘เฅž เค…เคŸॉเคฐ्เคจी  เค”เคฐ เคจॉเคฎिเคจेเคถเคจ 
เค†เคชเค•ो เคช्เคฐिंเคŸ เค†เค‰เคŸ  เคจिเค•ाเคฒ เค•เคฐ  เคญेเคœเคจा เคนोเค—ा  เค‡เคธ เคจिเคšे เคฆिเค เคนुเค เคเคก्เคฐेเคธ เคชเคฐ 
Zerodha, #153/154 4th Cross Dollars Colony,
Opp. Clarence Public School,
J.P Nagar 4th Phase,
Bangalore – 560078

เค…เค—เคฐ เค†เคชเค•ो เคจोเคฎीเคจेเคŸिंเค— เค•เคฐเคจा เคนै เค•िเคธी เค•ो เคคोเคน เค†เคชเค•ो id เคช्เคฐूเคซ เคœैเคธे เค†เคงाเคฐ เค•ाเคฐ्เคก ,เคตोเคŸเคฐ id  เคฏा เคก्เคฐाเค‡เคตिंเค— เคฒाเค‡เคธेंเคธ เค‰เคธी เคชाเคฐ्เคธเคฒ เคฎเคˆ เคญेเคœเคจा เคนोเค—ा เค…เค—เคฐ เค†เคชเค•ो เคชीเค“เค เฅ›ेเคฐोเคงा เคจे เคฐिเคธीเคต เคจเคนीं เค•िเคฏा เคคोเคน เคธ्เคŸॉเค•्เคธ เคฌेเคš เคจเคนीं เคชाเค“เค—े 


Thursday, August 1, 2019

Affle India IPO has been subscribed more than 86 times.


The IPO comprises of a new problem of Rs 90 crore and a sale offer of 49,53,020 equity shares, including anchor share of 27,72,483 equity shares.


On July 31, the last day of registration, the original government offer of mobile advertising company Affle India got an overwhelming reaction from investors. The Rs 459-crore public issue has received bids for 29.21 crore Equity Shares against IPO size of 33.78 lakh shares (excluding anchor investors' book) as per data available on exchanges.

The Initial Public Offer has been oversubscribed 86.49 times. he reserved part of skilled institutional investors has been subscribed 55.3 times and non-institutional investors have been subscribed 199 times while the retail part has been subscribed 10.96 times.
The IPO comprises of a new problem of Rs 90 crore and a sale offer of 49,53,020 equity shares, including anchor share of 27,72,483 equity shares. The price range for the government offer was set at Rs 740-745 per share, which was opened for bidding on July 29.
Affle India, already raised from 15 anchor investors about Rs 206.55 crore on July 26.



"We like Affle's distinctive business model with asset-light development policies and debt-free status. Considering Affle's worldwide presence in the high-growth advertising market as well as India, we think Affle is well-positioned in the mobile-only advertising strategy to boost growth. It has a worldwide well-diversified customer base, with nearly 70 percent of its income coming from the worldwide industry and the worldwide market.
The brokerage also said on valuation parse at a greater price band of Rs 745 per share Affle orders Rs 1,899 crore market cap on its FY19 income with P / E of 37x and greater ROCE owing to a high growth business model that offers a long-term investment chance.


Looking at its high-growth market with significant entry barriers, low-cost business model based on asset-light, automated and scalable company platform we are hopeful and investors may consider applying for both listing and long-term investment in the IPO, the brokerage recommended. Affle India is a decade-old worldwide technology firm with a proprietary consumer intelligence platform through appropriate mobile advertising that provides customer purchases, commitments, and transactions. This platform seeks to increase the returns on advertising spending by providing contextual mobile advertisements and decreasing digital ad fraud while proactively addressing the expectations of customer privacy. This platform is used both directly and indirectly through their marketing departments by (B2C) businesses across sectors, including e-commerce, fin-tech, telecom, media, retail and FMCG businesses.